Finally, core developers in the Ethereum ecosystem have decided on the date that the Dencun upgrade will go live on the mainnet.

Dencun Upgrade Mainnet Scheduled Confirmed

According to Tim Beiko of the Ethereum Foundation, the Dencun upgrade is scheduled for activation at slot number 8626176 and it is estimated to happen on March 13, 2024. Moreso, Beiko announced on X that this feature will introduce blob transactions as well as transient storage.

These blobs are designed to reduce rollup costs on the Ethereum mainnet. It achieves this feat by compressing transaction data off-chain, a move that mitigates the demand for storage and processing. The news comes only a few hours after the Dencun upgrade completed its third testnet deployment on the Holesky testnet.

Once the Dencun upgrade is completed, it will enhance the capability of the Ethereum network. Precisely, the network would be expected to handle anything from 30,000 to 100,000 transactions per second (TPS). At the moment, the Ethereum network can only handle about 13 to 60 TPS. In addition, it is expected to lower gas fees, a major menace the foundation has dealt with since its inception

Markedly, the Dencun upgrade is expected to improve the scalability of the Ethereum blockchain network. 

Upgrade Closer than Before

Two weeks into this year, core developers in the Ethereum ecosystem rolled out the Dencun upgrade on the Goerli test network and this brought with it EIP-4844, a revolutionary transaction mechanism referred to as “Proto-DankSharding.” 

This feature is designed to promote transaction fee slash on Layer-2s to a very significant extent.

Ultimately, the Proto-dankSharding is focused on revolutionizing the Ethereum transaction landscape including reducing transaction costs for decentralized applications (dApps). 

Recently, Galaxy Researcher Christine Kim unveiled two crucial dates that members of the Ethereum ecosystem should look out for. First, she noted that the Ethereum Dencun upgrade on the Sepolia testnet is expected to be activated by January 30 and it did take place on the said date.

Next, she said the same upgrade would happen on the Holesky testnet on February 7 and this was the last of the three testnet to run through the simulation of Dencun. With the successful implementation of both testnets and the new date release, the launch of the Dencun upgrade, slated to usher in a new era on Ethereum is closer than ever,

The post Ethereum Dencun Upgrade Mainnet Launch Slated For March 13 appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am